News

According to the Agency for Regulation and Development of the Financial Market (ARDFM), the mechanism for public support to unviable banks must be improved. To achieve this, the country will introduce a ban on any form of nonmarket government intervention in banking activities.

Authorities plan to specify the forms and mechanisms of government participation in rescuing troubled banks. The ARDFM particularly aims to set clear boundaries for the National Bank, the Ministry of Finance, the Kazakhstan Deposit Insurance Fund (KDIF) and the agency itself.

Moreover, authorities want to introduce Total Loss Absorbing Capacity (TLAC) requirements. These primarily consist of subordinated...

On March 6, Astana hosted the first meeting of a subcommittee on cooperation in agriculture between Kazakhstan and China, held within the Kazakhstan-China Cooperation Committee. During the video call, Kazakhstan’s Deputy Minister of Agriculture Yermek Kenzhekhanuly and his Chinese counterpart, Zhang Zhili, discussed ways to strengthen bilateral cooperation in agriculture.

According to the Agropress Telegram channel, the main topics included mutual trading and access to each other’s markets. In 2024, the agricultural trade turnover reached $1.4 billion, marking a 10.5% increase. Both sides emphasized that the partnership is strengthening and, therefore, must be expanded further.

China and Kazakhstan have decided...

President Kassym-Jomart Tokayev has ordered the cabinet to honor a man who disarmed a 67-year-old perpetrator who had taken a hostage at Almaty Airport, according to Ruslan Zheldibay, the president’s official spokesperson.

«President Kassym-Jomart Tokayev was informed about the hostage situation at Almaty Airport. He praised the bravery and skills of the man who disarmed the perpetrator with his bare hands,» Zheldibay wrote.

According to Orda.kz, the savior of the female hostage is 52-year-old Musa Abdraim. He was at the airport to see his loved ones off when he witnessed the tense situation. Approaching the...

Kazakhstan’s National Bank has raised the base rate today from 15.25% to 16.5%, despite experts’ forecasts that the regulator would keep the rate steady.

According to the National Bank, the move was necessitated by the rapid acceleration of inflation in the country and price pressures from the external sector, driven by rising inflation in Russia.

«All inflation measurement indicators show that inflation is accelerating. Annual inflation sped up to 9.4% in February. An increase in the pace of price growth is visible across all components, with the most significant rise observed in the service sector,» the...

Kazakhstan’s oil exports are on the rise, raising concerns that the Caspian Pipeline Consortium (CPC) may struggle to handle increasing volumes. While the CPC remains the country’s primary export route, participants in the Kashagan project have been exploring alternative options since 2024.

Experts from the Kazakhstan Oil and Gas: Facts and Comments Telegram channel suggest that if production at Kashagan and Tengiz continues to expand, the CPC could face challenges in transporting oil.

As the oil refining sector is becoming increasingly profitable, expanding domestic refinery capacity could help mitigate export bottlenecks. However, Kazakhstan’s refineries are already operating at full capacity...

The Kyrgyz government is taking steps to promote medical tourism by permitting kidney transplants for foreign patients, 24.kz reports, citing Health Minister Erkin Checheibayev.

«Kidney transplantation is a life-saving procedure for patients on dialysis. Expanding this sector will reduce the burden on the healthcare system and significantly improve patients’ quality of life. We are working on a regulatory framework to ensure sustainable funding and fair wages for healthcare professionals,» Checheibayev stated.

He further emphasized that this service will soon be accessible to international patients traveling to Kyrgyzstan for medical treatment.

«We...

A fire broke out at the Prorva West oil field late on March 6 following a sudden gas discharge at inactive well No. 437 managed by Embamunaigas (EMG). The well experienced extreme pressure during tubing operations, leading to equipment ejection and a blaze with flames rising 20 meters high. According to the PetroCouncil.kz Telegram channel, the situation has been rapidly worsening. Even though no injuries have been reported, the fire remains serious and has yet to be extinguished.

EMG’s press service confirmed the incident, stating that the company immediately undertook necessary measures to contain the situation. The area around the...

Kazakhstan’s national railway operator Kazakhstan Temir Zholy (KTZ) plans to increase railway transit through the Kazakhstan-China railway terminal in Xi’an by 65% to 456,000 tons by 2025, according to Rail-news.kz.

In 2024, the railway transit surpassed 276,000 tons, while the Xi’an hub’s current annual capacity is 133,000 twenty-foot equivalent units (TEUs).

According to KTZ, the company saw a 33-fold increase in total traffic last year, although no details were provided.

In 2024, more than 5,000 trains were dispatched from China to Europe, setting a new record, according to the railway operator. About a quarter of these shipments passed through Kazakhstan’s...

Five new nonferrous metal enterprises worth approximately $85.6 million will be commissioned in Kazakhstan later this year, according to the Kazakhstan Industry and Export Center QazIndustry.

Among the new projects is a doré bar (semi-pure alloy of gold and silver) production facility, as well as copper cathode and aluminum profile manufacturing plants. Once these facilities reach full capacity, they are expected to produce goods worth approximately $71.5 million annually. Of this, about $9.2 million worth of products will be exported, while $62.4 million worth of products will be supplied to the domestic market to substitute imported goods. These plants will...

ME Elecmetal, a global supplier of wear solutions for the mining, construction and industrial sectors, headquartered in Santiago, Chile, plans to build a grinding ball manufacturing plant in Kazakhstan, the Ministry of Industry and Construction announced.

The $85 million facility will be built in Taldykorgan and is expected to begin operations in 2028. Once fully operational, the plant will have an annual capacity of 150,000 tons and create more than 100 jobs.

KAZ Minerals, one of Kazakhstan’s largest copper producers, is the biggest consumer of grinding balls — essential components in ore processing. The company, owned by Vladimir Kim and...

On March 8, 2025, International Women’s Day, acclaimed Canadian composer and pianist Steve Barakatt will perform at Astana Opera as part of his Néoréalité world tour.

The concert, conducted by Elmar Buribayev, will feature the Astana Opera Symphony Orchestra, ballet company and children’s choir.

Barakatt is best known for composing the UNICEF anthem «Lullaby» and the International Anthem of the Royal Golf Clubs. As a pianist, he has performed in more than 500 concerts across five continents, and his music has been featured in major sporting events, including the FIFA World Cup and the Formula 1 Grand Prix.

Ahead of...

President of Uzbekistan Shavkat Mirziyoyev has criticized public servants for pursuing excessive luxury and wealth, as reported by Gazeta.uz. He believes that those working in public agencies should lead a humble lifestyle.

The president emphasized that the fight against corruption should start by addressing its root causes: excessive luxury and wealth.

«Some top officials have become hostages to false values, seeking illegal enrichment instead of setting an example of a modest lifestyle,» Mirziyoyev said during an extended government meeting on combating corruption.

The president also stated that an anti-corruption policy should begin with carefully selecting...

Kazakhstan and China’s trade data for 2024 show a $12.8 billion discrepancy, according to analysts from the Energy Monitor Telegram channel. China reported exports to Kazakhstan totaling $27.96 billion, while Kazakhstan’s customs data recorded only $15.21 billion in imports. The gap suggests Kazakhstan is potentially missing out on $1.5 billion in VAT deductions, not including other state duties.

The largest discrepancies are in clothing and footwear, where analysts found billions of dollars in mismatched figures. This may be due to small-scale trade, which is harder to track. A substantial discrepancy exists in automobile trade figures: China reports $1.86 billion...

CEO of KazMunayGas (KMG) Askhat Khassenov held talks with President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf during a visit to Baku. The two sides also shared their opinions on how the oil transit agreement via the Aktau–Baku–Ceyhan pipeline has been implemented since 2022.  

In 2024, this pipeline transported 1.4 million tons of oil, while the transit volume for this year is set to increase to 1.7 million tons. According to KMG’s press service, this partnership strengthens the transit opportunities of both countries and streamlines the supply of Kazakhstani oil to global markets.

Delivering a speech at the CFO Summit 2025 in Almaty, InDrive CEO and Founder Arsen Tomsky stated that he does not perceive a strong national idea in Kazakhstan. He suggested that if such an idea is needed, it should be developed using private funding.

Tomsky made this statement in response to a question about what kind of dream could serve as the foundation for Kazakhstan’s national idea. According to him, many economic miracles are often built on national ideas. In a capitalistic society, he argued, the absence of such an idea often leads to money becoming the primary motivator for...

The Business Activity Index (Freedom Holding Corp. PMI®, produced by S&P Global) reached 50.2 in February, down from 51.3 in the previous month, indicating that growth in activity was only fractional.

The index ranges between 0 and 100, with a reading above 50 indicating growth and below 50 signaling a decline.

Respondents noted that while improving demand, new project wins, and the introduction of new services boosted sales, these gains were partially offset by rising competition within the market.

Despite concerns over increasing competition, businesses continued to raise service charges in February. In fact, the rate of output charge inflation...

The Kremlin considers Minsk a perfect location for tripartite negotiations between the presidents of Russia, Ukraine and the U.S. Moscow has also given a «positive» assessment of President Zelenskyy’s statement indicating readiness for negotiations.

These remarks were made by Dmitry Peskov, the official spokesperson for the Russian president, in response to an initiative by Alexander Lukashenko, the president of Belarus, who proposed organizing peace negotiations between Donald Trump, Vladimir Putin and Volodymyr Zelenskyy in Minsk.

«This issue has never been brought up or discussed. Of course, Minsk is the best place for us. This is our...

The renowned Kazakh singer Dimash Qudaibergen will release his new song «Love’s Not Over Yet» in collaboration with two-time Grammy-winning songwriter and producer Walter Afanasieff. The song is scheduled to premiere on March 7, 2025.

Afanasieff is an acclaimed composer who has worked with some of the biggest names in the music industry. He has co-written and produced hit songs for legendary performers such as Whitney Houston, Barbra Streisand, Mariah Carey, Celine Dion, Lara Fabian, Ricky Martin, Leona Lewis and Savage Garden. Some of his most famous works include:

Kazakhmys Corporation, one of Kazakhstan’s leading mining companies, claims it wasn’t part of any talks related to the potential sale of natural deposits to either foreign or local investors.

“There are rumors circulating in the media and on social networks about alleged ongoing negotiations to sell eight mineral deposits to a foreign investor. This information is false. Kazakhmys Corporation is not involved in any talks to sell any deposits to foreign or other investors,” the company said in a statement.

Furthermore, Kazakhmys emphasized that the intentional dissemination of fake news is punishable under Kazakhstan’s legislation.

Eni, an Italian multinational energy company headquartered in Rome, has officially notified Kazakhstan of its decision to withdraw from the Isatay and Abay offshore projects in the Caspian Sea, as reported by PetroCouncil.

Previously, Isatay Operating Company LLC, jointly controlled by KazMunayGas (KMG) and Eni Isatay B.V., a subsidiary of Eni, on an equal basis, returned ownership of the Isatay field to the government. This decision followed geological exploration that deemed the oil and gas field commercially nonviable.

The two oil companies established their joint venture in 2017 to develop the promising, as many thought, Isatay and Abay fields in...

City Transportation Systems, the company managing public transportation in Astana, has showcased a completed light rail (LRT) station on Kabanbay Batyr Avenue, near Astana International Airport, as reported by Inform.kz.

The facade work on-site, including steel frame installation, paneling and leaded light cladding, has been completed. The station is also equipped with escalators, elevators and interactive display screens to ensure passenger comfort.

The entire Astana LRT infrastructure is expected to be completed between August and September this year, with the transport system set to launch in early 2026. It will feature 18 stations with two-level platforms, including 11 at ground...

Russian insurance company AlfaStrakhovanie has paid compensation for the Embraer 190 aircraft operated by Azerbaijan Airlines (AZAL) that crashed near Aktau on Dec. 25, 2024, and has begun paying compensation to its passengers, Minval.az reported, citing Ilya Kabachnik, the general director of aviation and space insurance at AlfaStrakhovanie.    

“We paid full compensation for the aircraft in February. The primary part of the risk was reinsured by the Russian National Reinsurance Company,” he said.

The exact amount of compensation has not been disclosed, although experts estimate it at between $25 million and $30 million.

The...

Kazakhstan will adhere to its OPEC+ obligations and plans to compensate for excess oil production ahead of schedule, according to Minister of Energy Almassadam Satkaliyev. He made the statement during a recent meeting with OPEC+ members.

«Kazakhstan will take further measures to comply with its obligations, including the submission of an updated and front-loaded compensation plan to account for its outstanding compensation volumes recorded since January 2024,» the Ministry of Energy said.

The agency added that Kazakhstan took all necessary steps last month to fulfill its commitments.

In early February 2025, media reports indicated

A new $1.3 billion fertilizer manufacturing plant will be built in Kazakhstan by ESTA Construction, according to the government’s press service.

After negotiations with ESTA Construction CEO Mustafa Toprak, Prime Minister Olzhas Bektenov instructed the cabinet to sign an investment agreement with the Turkish company within two weeks.

The plant will be built in the Mangystau region, near the port of Kuryk, to streamline the export of fertilizers across the Caspian Sea. The new facility will produce up to 700,000 tons of carbamide and 42,000 tons of ammonia per year. This will reduce Kazakhstan’s dependence on imported fertilizers and provide...